Inclusionary
California public policy favors inclusionary housing, the planned integration of housing types and participants in each community.
Inclusionary housing consists of rental and for sale housing that is affordable to households from a broad portion of the economic
spectrum.

Hunters Pointe

168

$53.2 million

Carlsbad, CA

Rancho Buena Vista

150

$23.3 million

Chula Vista, CA

The Crossings

108

$22 million

San Diego, CA

Fairbanks Ridge

204

$58.1 million

San Diego, CA

Teresina

440

$46 million

Chula Vista, CA

The Landings

92

$27.8 million

Chula Vista, CA

Glen Ridge

78

$22 million

Carlsbad, CA

Mariposa

106

$15.9 million

Carlsbad, CA

Rancho Del Norte

119

$21.8 million

San Diego, CA

Villa Serena

132

$9.2 million

Chula Vista, CA

Windwood Village

92

$13.9 million

San Diego, CA

Cityplace

70

$17.5 million

Bakersfield, CA

Iris

20

$8.2 million

Encinitas, CA

Pacific Sun

6

$2.9 million

Huntington Beach, CA

Seabreeze

38

$5.4 million

San Diego, CA

Terramar

21

$7.6 million

San Diego, CA

The Landings II

143

$47.6 million

Chula Vista, CA

Torrey Highlands

76

$10 million

San Diego, CA

Villa Andalucia

32

$4.4 million

San Diego, CA

Villa Glen

26

$4.2 million

San Diego, CA

Willow Glen

135

$29 million

Natomas, CA

Special Needs
Certain segments of the population have special housing and service needs. Typical special needs populations include seniors,
disabled, developmentally disabled, and recently homeless persons. The Company has developed housing projects that include
physical features, amenities and services that make them suitable to special needs residents.

City Heights Square

150

$32.3 million

San Diego, CA

Market Square Manor

200

$19.9 million

San Diego, CA

Villa Harvey Mandel

90

$13.2 million

San Diego, CA

Paul Mirable Single Adult Resid.

350 Bed

$9 million

San Diego, CA

15th & Commercial

140

$56.6 million

San Diego, CA

16th and Market

136

$73.1 million

San Diego, CA

Salvation Army - Door of Hope

40

$12.8 million

San Diego, CA

Rural
One of the Company’s specialties is developing apartment communities in small communities located in rural areas. These rural
communities frequently have a housing stock that is substandard and unsafe. The Company has developed rural projects ranging
from 10 to over 100 units.

Countryside Apartments

73

$9.9 million

El Centro, CA

Calexico Family Apartments

80

$10.3 million

Calexico, CA

Heber Family Apartments I & II

153

$29.7 million

Heber, CA

Villa de las Flores

80

$8 million

Calexico, CA

Bienestar Apartments I & II

156

$13.4 million

San Luis, AZ

Brawley Elks Senior Apartments

81

$10.7 million

Brawley, CA

Brawley Family Apartments

80

$9.6 million

Brawley, CA

Brawley Gardens

81

$11.8 million

Brawley, CA

El Quintero

54

$4.6 million

Calexico, CA

Hatfield Homes

48

$6 million

El Centro, CA

Holtville Senior Apartments

81

$9.4 million

Holtville, CA

Las Brisas

72

$10.1 million

El Centro, CA

Las Casitas

76

$5.3 million

San Luis, AZ

Rivera I & II

134

$8.4 million

Calexico, CA

Tierra Del Cielo

32

$6.2 million

Somerton, AZ

Villa del Sol

52

$10.3 million

Calexico, CA

Villa Dorado

80

$16.5 million

Calexico, CA

Villa Esperanza

72

$15.2 million

Calipatria, CA

Villa Fortuna

64

$10.6 million

Brawley, CA

Westmorland Family Apartments

65

$9.7 million

Westmorland, CA

Redevelopment
A Redevelopment or Revitalization project is one that is developed in an area that is designated as a focus of redevelopment
efforts by a city or redevelopment agency. Such areas are normally somewhat blighted, have dilapidated buildings that do not
conform to health and safety codes or zoning ordinances, high crime, etc. The idea of redevelopment is to replace the old
uses and buildings with new development or restoration of buildings. Petco Park is a redevelopment project, as is Market
Square, De Anza, Hotel San Carlos, and St. Regis. The method is to repair or replace the old buildings, drive out the bad
uses and bad people, and improve public safety. The effort usually requires public investment to get it started and private
investment to keep it going.

Courtyard Terraces

88

$24.5 million

San Diego, CA

Hotel San Carlos

60

$3.7 million

Yuma, AZ

Market Square Manor

200

$19.9 million

San Diego, CA

Villa Harvey Mandel

90

$13.2 million

San Diego, CA

DeAnza Hotel

94

$6.5 million

Calexico, CA

Cedar Creek Apartments

48

$13.9 million

Santee, CA

City Heights Square

150

$32.3 million

San Diego, CA

Emperor Estates

62

$8.8 million

Dinuba, CA

Estrella del Mercado

92

$13.9 million

San Diego, CA

Silver Sage Apartments

80

$24 million

Lakeside, CA

St. Vincent de Paul — 16th & Market

136

$69.4 million

San Diego, CA

Verbena Family Apartments

80

$26.6 million

San Ysidro, CA

Acquisition / Rehabilitation
“Acquisition / rehab” projects are existing apartment communities that range from a few years to many decades old. The projects
are acquired with the purpose of renovating and modernizing them to the greatest extent possible.